Hi, I've Googled till I can't see straight and have not found an answer to this situation:
We have a Florida S-corp that has negative retained earnings due to debt. We would like to close that entity and transfer assets and debt to a new Delaware LLC. Since the Delware LLC is a new "blank'" entity, how do we handle acuiring a company with negative value on the balance sheet? Is it simply offset by good will?
Thank you! Joe